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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings per share | EARNINGS PER SHARE Basic earnings per share amounts are calculated by dividing the net income for the year by the weighted average number of ordinary shares issued and outstanding during the year. Diluted earnings per share amounts are calculated by dividing the net income by the weighted average number of shares issued and outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares. If in the period there is a loss then any potential ordinary shares have been excluded from the calculation of diluted loss per share. The following reflects the net income and share data used in the earnings per share calculation.
(in thousands of $, except share data) |  | 2023 |  | 2022 |  | 2021
Net income |  | 120,039 |  |  | 188,042 |  |  | 162,205 |
Weighted average number of ordinary shares |  | 53,697,594 |  |  | 53,198,015 |  |  | 53,319,408 |
Share options |  | 288,095 |  |  | 325,851 |  |  | 20,884 |
Weighted average number of shares, adjusted for dilution |  | 53,985,689 |  |  | 53,523,866 |  |  | 53,340,292 |
Earnings per share |  |  |  |  |  |
Basic |  | 2.24 |  |  | 3.53 |  |  | 3.04 |
Diluted |  | 2.22 |  |  | 3.51 |  |  | 3.04 |

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